Symmetry Investments LP Acquires 15,560 Shares of Birkenstock Holding plc (NYSE:BIRK)

Symmetry Investments LP boosted its holdings in shares of Birkenstock Holding plc (NYSE:BIRK) by 43.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,300 shares of the company’s stock after acquiring an additional 15,560 shares during the quarter. Symmetry Investments LP’s holdings in Birkenstock were worth $2,907,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Birkenstock in the fourth quarter worth approximately $131,786,000. Marshall Wace LLP raised its holdings in Birkenstock by 260.5% during the fourth quarter. Marshall Wace LLP now owns 1,100,692 shares of the company’s stock worth $62,365,000 after buying an additional 795,382 shares during the last quarter. AGF Management Ltd. bought a new position in shares of Birkenstock in the fourth quarter valued at $37,153,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Birkenstock by 9,658.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company’s stock valued at $26,641,000 after buying an additional 465,364 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Birkenstock by 581.8% during the fourth quarter. Principal Financial Group Inc. now owns 542,798 shares of the company’s stock worth $30,755,000 after acquiring an additional 463,191 shares in the last quarter. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Birkenstock Stock Performance

Shares of BIRK stock opened at $48.12 on Wednesday. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 38.81, a price-to-earnings-growth ratio of 1.02 and a beta of 1.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 2.84. Birkenstock Holding plc has a one year low of $40.56 and a one year high of $64.78. The company’s 50-day moving average is $47.50 and its 200 day moving average is $51.33.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $385.88 million for the quarter, compared to analysts’ expectations of $355.80 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. Sell-side analysts expect that Birkenstock Holding plc will post 1.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on BIRK. Piper Sandler cut their price target on Birkenstock from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Stifel Nicolaus reduced their price objective on shares of Birkenstock from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

Birkenstock Profile

Birkenstock Holding plc manufactures and sells footwear products. It also offers sandals, shoes, closed-toe silhouettes, skincare products, and accessories. The company sells its products through e-commerce sites and a network of owned retail stores, as well as business-to-business channels. It operates in the United States, Brazil, Canada, Mexico, Europe, APMA, and internationally.